CVS Health is laying off 38 employees in Rhode Island as part of a broader strategy to reduce costs and optimize operations.
The layoffs, set for June 7, involve workers at the company’s corporate headquarters in Woonsocket, along with some remote employees who report to individuals in Rhode Island.
This move is part of CVS’s plan to achieve $2 billion in cost savings by modernizing its finance organization and integrating assets.
Affected employees will receive severance pay, continued benefits, and access to outplacement services, according to the company. This follows a previous announcement in which CVS Health planned to cut nearly 3,000 jobs, including 632 in Rhode Island.